Lennar Q4 EPS $4.55 (+16% YoY); FY 2023 deliveries seen 60K-65K, gross margin ~21%

LENNAR CORP /NEW/

2022-FY EPS reported $15.72 revenue$33,671,010,000

Q4 diluted EPS $4.55 vs $3.91 YoY; adjusted EPS $5.02 vs $4.36, both up double-digit.
Deliveries Q4 20,064 (+13%); new orders 13,200 (-15%); backlog 18,869 (-21%).
Homebuilding gross margin 24.8% (pre-impairment 25.3%), down 270 bps YoY on higher costs and incentives.
Homebuilding debt-to-capital improved to 14.4% (lowest ever); liquidity $7.2B with no revolver borrowings.
Q1 FY2023 guidance: deliveries 12,000-13,500, gross margin ~21%; FY2023 deliveries 60,000-65,000.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LENNAR CORP /NEW/ reported the fourth quarter ended November 30, 2022 results: revenue $10.2 billion, net income $1.3 billion, EPS $4.55 per diluted share.

Period: the fourth quarter ended November 30, 2022
Revenue: $10.2 billion
Net income: $1.3 billion
EPS: $4.55 per diluted share
Result: reported results

Exact text from the filing

orders dollar value decreased 24% to $5.5 billion • Backlog decreased 21% to 18,869 homes; backlog dollar value decreased 23% to $8.7 billion • Total revenues increased 21% to $10.2 billion • Homebuilding operating earnings increased 4% to $1.8 billion ◦ Gross margin on home sales of 24.8% ▪ Pre-impairment gross margin on home sales of 25.3% - down 270 basis points

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LENNAR CORP /NEW/ reported the fiscal year ended November 30, 2022 results: revenue $33.7 billion, net income $4.6 billion, EPS $15.72 per diluted share.

Period: the fiscal year ended November 30, 2022
Revenue: $33.7 billion
Net income: $4.6 billion
EPS: $15.72 per diluted share
Result: reported results

Exact text from the filing

◦ Increased 29% to $5.2 billion, excluding adjustments • Deliveries increased 11% to 66,399 homes • New orders decreased 5% to 61,105 homes • Total revenues increased 24% to $33.7 billion • Net margin on home sales improved 170 bps to 21.4 % • Retired early $575 million of homebuilding senior notes due November 2022 • Repurchased 11 million shares of Lennar common

View on SEC.gov

Browse all earnings releases →

LENNAR CORP /NEW/ filing history →

Source: SEC EDGAR

accession 0001628280-22-031933

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.